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Authorization Letter To Close Bank Account for Indonesia

Authorization Letter To Close Bank Account Template for Indonesia

This document is a formal authorization letter used in Indonesia to grant someone the legal authority to close a bank account on behalf of the account holder. It follows Indonesian banking regulations and civil law requirements, particularly Law No. 10 of 1998 on Banking and the relevant provisions of the Indonesian Civil Code regarding power of attorney. The letter includes detailed information about the account holder, the authorized representative, specific account details, and clear instructions for the closure process and handling of remaining funds. It must be properly witnessed and accompanied by required identification documents to comply with Indonesian banking regulations and anti-money laundering laws.

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Authorization Letter To Close Bank Account

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What is a Authorization Letter To Close Bank Account?

An Authorization Letter To Close Bank Account is a crucial document used in Indonesian banking operations when an account holder cannot personally close their bank account and needs to delegate this authority to another person. This document is particularly relevant in situations involving overseas relocations, medical incapacity, or corporate account management. The letter must comply with Indonesian banking regulations, including Law No. 10 of 1998 on Banking and OJK consumer protection guidelines. It contains essential details such as account information, authorized representative's details, specific powers granted, and instructions for remaining funds. The document serves as a legal instrument under Indonesian law, protecting all parties' interests while ensuring proper account closure procedures are followed. It requires proper witnessing and must be accompanied by specified supporting documentation to meet regulatory requirements.

What sections should be included in a Authorization Letter To Close Bank Account?

1. Date and Place: Current date and location where the letter is being written

2. Bank Details: Full name and address of the bank branch where the account is held

3. Account Holder Information: Full name, ID number, address, and contact details of the account holder

4. Account Details: Complete bank account number and type of account to be closed

5. Authorized Person Details: Full name, ID number, address, and contact information of the person being authorized

6. Authorization Statement: Clear statement of authorization to close the account and handle related procedures

7. Reason for Authorization: Brief explanation of why the authorization is being granted

8. Instructions for Remaining Funds: Clear directions for handling any remaining balance in the account

9. Duration of Authority: Validity period of the authorization

10. Signature Block: Space for signatures of the account holder, authorized person, and witnesses if required

What sections are optional to include in a Authorization Letter To Close Bank Account?

1. Joint Account Holder Details: Required when the account is jointly held, including details and signatures of all account holders

2. Corporate Authorization: Required for corporate accounts, including company details and proof of authority to grant authorization

3. Special Instructions: Any specific instructions regarding linked accounts, standing orders, or automated payments

4. Indemnity Clause: Optional clause protecting the bank from future claims regarding the account closure

5. Language Declaration: Required when the letter is bilingual or when the account holder doesn't speak Indonesian

What schedules should be included in a Authorization Letter To Close Bank Account?

1. Identity Documents: Copies of valid ID cards/passports of both the account holder and authorized person

2. Proof of Address: Recent utility bills or other documents proving current address

3. Original Bank Documents: Bank cards, unused checks, or other bank-issued items to be returned

4. Corporate Documents: Company registration and board resolution (if applicable for corporate accounts)

5. Witness Documentation: Copies of witness IDs and their contact information where required

Authors

Alex Denne

Head of Growth (Open Source Law) @ Ƶ | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents | Serial Founder & Legal AI Author

Jurisdiction

Indonesia

Publisher

Ƶ

Document Type

Authorization Form

Cost

Free to use
Relevant legal definitions





















Clauses


















Relevant Industries

Banking & Financial Services

Financial Technology

Legal Services

Corporate Services

Wealth Management

Professional Services

Retail Banking

Corporate Banking

Relevant Teams

Legal

Compliance

Customer Service

Operations

Account Management

Risk Management

Corporate Banking

Retail Banking

Document Processing

Administrative Support

Relevant Roles

Bank Branch Manager

Account Relations Manager

Legal Compliance Officer

Banking Operations Manager

Customer Service Representative

Corporate Banking Officer

Wealth Management Advisor

Legal Counsel

Company Secretary

Administrative Officer

Personal Banking Manager

Risk Management Officer

Industries






Teams

Employer, Employee, Start Date, Job Title, Department, Location, Probationary Period, Notice Period, Salary, Overtime, Vacation Pay, Statutory Holidays, Benefits, Bonus, Expenses, Working Hours, Rest Breaks,  Leaves of Absence, Confidentiality, Intellectual Property, Non-Solicitation, Non-Competition, Code of Conduct, Termination,  Severance Pay, Governing Law, Entire Agreemen

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